What happened in the California energy crisis, why it happened and who was to blame. California's energy deregulation is one of the biggest regulatory, political and public policy mistakes in the last hundred years. Partially deregulating California's electricity markets has worked a strange alchemy on politics and business. The results cast a harsh light on: * Partisans -- who didn't understand their ideology * NIMBY consumers -- who wanted cheap energy * Political compromisers -- who proved worse than extremists * Explotative corporations -- who misread the situation These factors turned economic outcomes upside down: smart players failed and bumblers stumbled into windfalls. And while California went dark, other states' deregulation succeeded.
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The recent near-catastrophic collapse of California's electrical power system raised important questions about power deregulation. Although there are as many explanations for what occurred as there are proposed solutions, the full story of the decisions and events leading to the January 2001 blackouts has not been told. Walsh, editorial director of Silver Lake Publishing and the author of several books on consumer issues, attempts to provide one. Unfortunately, his cynical biases against industry and lobbyists make it difficult to accept his conclusions. For example, Walsh defines lobbyists as "the opportunistic band of lawyers, former politicians and staffers and industry moneymen that influence legislation in state or national capitols." This jaded perspective so pervades the account that there is little in the way of objective analysis. The book is most useful when it strictly chronicles factual events and lists basic information names, dates, etc. But without knowledge of the author's sources (a bibliography and footnotes are absent), these remain questionable as well. Recommended only for the largest public libraries with exceptional resources. Thomas J. Baldino, Wilkes Univ., Wilkes-Barre, PA
Copyright 2002 Cahners Business Information, Inc.
Copyright 2002 Cahners Business Information, Inc.
About the Author
James Walsh is Silver Lake Publishing's president and publisher. This is his third book dealing with public policy and economics. Walsh's books have been quoted and excerpted widely, including in Reader's Digest, USA Today, and Consumer's Research. He lives in Los Angeles.
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The story of California's ill-fated experiment with deregulating its electricity marketplace is a complicated one-as most failed economic experiments tend to be. Read the first page Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
The story of California's ill-fated experiment with deregulating its electricity marketplace is a complicated one-as most failed economic experiments tend to be. Read the first page Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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